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10:34
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Originally posted by Michaeljob:
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$3.18m raised with the directors chipping in $180k and Tolga Kumova $1m. Having now seen quite a number of stock react to TK's investments it seems MXR is just the same. TK brings with him a flurry of get rick quick investors/traders, they borrow his conviction but can never replicate it. This is why you see a sharp rise and then often a decline following as they drop away again. Last week over half the shares on issue were exchanged as predominately traders jumped on and then off. "Funds raised from the placement will allow the Company to accelerate exploration programmes at prospects around the historic high-grade Wattle Dam Gold Mine, following recent positive drill results of 3.0m @ 83.3g/t Au from 25m, including 1m @ 245g/t Au1 . The placement funds raised will also be used to complete further exploration across the Company’s Spargoville tenements, the completion of studies required for the Company’s Larkinville and Eagles Nest resources approved for mining and for general working capital purposes"
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Yep agree need to have the patience, not easy at times when there appears to be better short term opportunities elsewhere. The fundamentals here are excellent coupled with an excellent share structure and register.
